This is a very appropriate question in view of our economy. There are many things that could be stated, but in our current economic climate, there are two important considerations.
First, we, along with many other countries, have been printing money. Therefore, there is much more money in circulation. When this happens, the value of the dollar goes down, because there is more of it. In light of this, there will be inflation in the future. We can gauge this a bit in the price of precious metals. They have hit near all time highs.
Second, there has to be certain things that sustain an economy after recession. However, in view of the fact that the whole world is in economic hardship, there may be very few things that drive the economy. Hence the "new normal" may be modest gains.
In light of these point, I hope that American will learn to live more frugally in the future.